The Taxation of Capital Gains
Report of the Standing Senate Committee on Banking, Trade and Commerce.
Discussed capital gains taxation in Canada and foreign countries; recommended lowering ...

  • Staff from the Committees and Private Legislation Directorate: Ms

  • Insufficient Provision for Losses comparison of capital gains tax rates for individuals and corporations The Effect of Compounding organizations that sent briefs or correspondence but did not appear The point I made at the Budget Committee was that if the capital gains tax were eliminated, that we would presumably, over time, see increased economic growth which would raise revenues for the personal and corporate taxes as well as the other taxes we have

  • I argued that the appropriate capital gains tax rate was zero

  • This type of financing is primarily provided by financially-sophisticated individuals (angels) or venture capitalists who operate outside of a tax-sheltered environment

  • Their choices are very sensitive to the rate of tax on their investment income

  • Although the use of tax shelters reduces the average tax rate on investment income, the marginal tax applying to non-sheltered income is quite high, reaching 33% to 50%

  • Economic decisions are made, not on the basis of average tax rates but the amount of tax paid on the last dollar of investment

    Information and Misinformation about Federal Tax Burdens - 1/21/99
    Center on Budget and Policy Priorities article arguing that the percentage of
    income that typical middle-class families pay in federal taxes is often ...

  • The CBO analysis includes the effect of income taxes, Social Security and other social insurance taxes, excise taxes, and corporate income taxes

  • The Joint Committee analysis includes the effect of income taxes, Social Security and other payroll taxes, and excise taxes, but not corporate income taxes

  • For example, the Tax Foundation methodology assumes that a median two-earner family with an income of about $50, 000 pays the same percentage of income in corporate income taxes and estate taxes as a wealthy family with income of $5 million and extensive investments

  • That is not a valid assumption; it is widely accepted that most corporate income taxes and virtually all estate taxes are paid by high-income taxpayers

  • While the typical middle-income family is in the 15 percent federal income tax bracket, high-income families are in brackets with marginal rates more than twice that high and pay much higher percentages of income in federal income tax than middle-class families do

  • The four moderate-income families pay five percent of their income in income tax, not 22 percent

  • It ascribes tax rates to the average person that only taxpayers at considerably higher income levels pay

    Tax news and advice from
    Information on all phases of tax planning and preparation.

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    Differences between the Senate and House Republican tax cut plans ...

  • Here are the highlights of the two bills: Income Tax Rates • The House bill would cut all tax rates, with the lowest rate -- the rate paid by most taxpayers -- falling from 15 percent to 13.5 percent

  • Under the House bill the rates would drop as follows: • 15 to 13.5 percent

  • • 28 to 25.2 percent; • 31 to 27.9 percent; • 36 to 32.4 percent • 39.6 (the top tax rate) to 35.7 percent • The Senate bill would only cut the lowest rate -- the rate paid by most taxpayers -- from 15 to 14 percent Capital Gains Taxes • The House bill would slash the capital gains tax rate from 20 percent to 15 percent, effective immediately • The Senate bill would make no change Inheritance Taxes • The House bill would repeal the tax -- currently paid only by the richest 2 percent who die -- entirely by the year 2009, even for multimillion dollar estates

  • • The Senate bill would eliminate the tax on estates under $1.5 million by 2007 but cut the top rate for bigger estates only slightly to 50 percent

  • • The Senate bill eliminates the penalty by allowing married couples who currently jointly pay more in taxes than they would if they could file separately to file single returns on a combined form


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    Senate passes GOP tax cut bill by one vote - August 5, 1999

  • The new package stretches over 10 years and would gradually cut 1 percentage point off each personal income tax rate

  • It also would provide relief from the so-called marriage penalty, cut the personal capital gains tax rate and eventually eliminate the inheritance tax

  • Strategy sessions Clinton, joined by dozens of congressional Democrats, reiterated Thursday his opposition to the nearly $800 billion plan

  • Corporate capital gains tax would be unchanged

    BBC NEWS | Business | Do housewives pay tax?
    Advice for full time housewives and part time earners on minimising their tax

  • This tax burden arises indirectly, not because the Revenue imposes unduly harsh rates but because too few married couples take full advantage of the relief available to reduce their collective tax liability

  • If the working partner is paying tax at the top rate of 40% that represents an overpayment of tax for the family of around £5, 000

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    Stephen Moore, Director Of Fiscal Policy Studies at the Cato Institute in
    Washington, DC, outlines the effects of various government subsidies and argues ...


  • BEFORE THE: SENATE COMMITTEE ON GOVERNMENTAL AFFAIRS SUBCOMMITTEE ON GOVERNMENT MANAGEMENT, RESTRUCTURING AND THE DISTRICT OF COLUMBIA JUNE 3, 1997 T hank you Chairman Brownback for the opportunity to testify before the Subcommittee on Government Management on the Advanced Technology Program and other corporate subsidies

  • Second, I wish to commend you and your staff for your leadership in identifying wasteful and unnecessary spending in the budget--particularly in the area of corporate subsidies

  • Both the social welfare and corporate welfare states need to be reformed with equal urgency

  • You are absolutely right when you argue that the 104th Congress enacted reforms in social welfare programs and that now the 105th Congress must adopt welfare reform part II: eliminating the corporate safety net

  • First, corporate welfare is a large and growing component of the federal budget

  • Two years ago Dean Stansel and I co-authored a Cato Institute report entitled "Ending Corporate Welfare as We Know It" in which we estimated that the federal government now spends roughly $65 billion each year on more than 125 programs that provide direct taxpayer assistance to American businesses

  • Benefits

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    Nebraska Republican Party
    Supports issues and candidates that supports conservative values. Page includes
    list of events, elected officials, candidates, news releases and the party's ...

  • economy has created more than 5.5 million jobs, and the unemployment rate has dropped to 4.8 percent, which is below the average for the past three decades

  • The President’s tax cuts ensure that everyone who pays income taxes receives tax relief, and establishes a new 10% marginal tax rate for those at the lowest end of the income scale

  • Lower Marginal Tax Rates High marginal tax rates act as a disincentive for hard-working individuals to achieve the American Dream

  • Our tax structure must not prevent moderate to low-income individuals or families from joining the middle class

  • Lower Capital Gains and Dividends Taxes Low rates on capital gains taxes encourage saving and investment, habits that are good for the long-term stability of families and the American economy as a whole

  • Additionally, the tax penalty for married couples would resume and gains from investments and dividends would be taxed at a much higher rate, discouraging investment and job creation

  • Finally, the death tax would return at a much higher rate, again making it harder to pass on family farms and family-owned businesses to the next generation

    Taxation in Japan
    Gives information on corporate and personal income taxes in Japan, as well as
    expatriate compensation and consumption tax.

  • (1998 edition prepared by Tax Bureau, Ministry of Finance JAPAN) Overall aspects of the tax system, individual income tax, corporate tax, consumption tax, property-based tax and other I

  • I-1 For the purpose of Japanese corporate taxes, foreign enterprises operating in Japan are classified as domestic corporation and foreign corporation

  • The scope of taxable income for corporate income tax purposes differs depending on the manner of their operation in Japan, however, it is limited to income from sources within Japan

  • I-2 Japanese corporate income taxes consist of corporation tax (national tax) under the Corporation Tax Law, and local taxes under the Local Tax Law, which are business tax (prefecture tax), prefectural inhabitant tax and municipal inhabitant tax

  • The rates of such taxes for each accounting period are as shown below

  • Prefectural and municipal inhabitant taxes based on corporation tax: Standard rate Maximum rate Prefecture inhabitant tax 5% 6% Municipal inhabitant tax 12.3% 14.7% Total 17.3% 20.7% Prefectural and municipal inhabitant per capita tax: Prefectural inhabitant per capita tax: The tax amount varies based on the total of paid-in-capital and capital surplus of the corporation

    Taxes: Tax Return Preparation Tips & Tax Software Reviews -
    Information on extensions, capital gains, and withholding.

  • Finally, Bell has found an excellent article on simple, legal strategies to, and that's a Labor Day treat I whole-heartedly recommend

    Flat Tax Fiasco
    Debunks the myths of a flat tax panacea.

  • The proposals are primarily offered as either recommendations for tax simplification (which is an important issue but entirely unrelated to the issue of tax rate structure, as noted later in this commentary) or are not actually flat, as also noted below

  • Laffer is the economics guru who inspired Ronald Reagan's "supply side economics." Starting Laffer's theories on cutting marginal tax rates on the highest incomes, Reagan developed a plan to balance the budget by cutting taxes for rich people while increasing spending, resulting in all-time record deficits paid for by the middle class and future generations, and which George Bush (senior) labeled "Voodoo Economics" when he first heard about it in 1980

  • This creates a "progressive" system with two tax brackets: zero and the top rate

  • Allowing this primary exemption acknowledges the need to distinguish between the differing levels of marginal utility of money, but goes from one extreme, a "zero" rate, all the way to the other extreme of the top rate in one single jump

  • Proponents of these "flat" taxes love to point out that it is unfair to charge some people a different rate than others


    National Timber Tax Website
    Comprehensive explanation of the tax treatment of timber. Including qualifying
    for capital gains, casualty losses, income, expenses, and reforestation.

  • In addition, the easement didn't restrict the types of units that would have been allowed under the easement...|| Tax Increase Prevention and Reconciliation Act of 2005 Capital Gains Rates Extended - On May 17, 2006 the President signed, H.R

  • The major provision affecting timber owners is the extention of the 5% and 15% capital gains rates through December 31, 2010

  • The lower rate is for taxpayers in the 10% or 15% ordinary income tax brackets

  • This 5% rate goes to 0% after 2007

  • Without this action by Congress the capital gains rates would have gone back-up to 10% and 20% for sales and other disposals after December 31, 2008

  • This rate extension to 2010 means that the lower capital gains rates will expire at the same time as all the changes under the Economic Growth and Tax Relief Reconciliation Act of 2001

  • 194 allowing taxpayers to elect to deduct up to $10, 000 of qualified reforestation expenses, and amortize qualified expenditures over $10, 000...|| Domestic Production Activities Deduction - General Overview and Analysis of When Receipts Derived In Whole or In Part From Timber Qualify as Domestic Production Gross Receipts...|| American Jobs Creation Act of 2004 - The measure repeals a current export tax break that has been deemed an unfair trade subsidy by the World Trade Organization, as well as modifying a number of timber tax provisions, including Internal Revenue Code Section 631(b) and allowing landowners to expense of reforestation costs in an accelerated fashion...|| Hurricane Relief Timber Owners in Gulf Opportunity Zone, Rita Gulf Opportunity Zone, and Wilma Gulf Opportunity Zone Get Reforestation and Net Operating Loss Help (The Gulf Opportunity Zone Act of 2005, P.L

    Features the pictures, journal, personal information, and contact details of a
    University of Toronto finance student.

  • As a result, all capital gains incurred by a corporation are taxed at ordinary income tax rates

    Tax Insight - save and avoid tax, tax adviser, tax planning
    Tax planning strategies publication.

  • to reduce capital gains tax A unique collection of inspirational tax saving strategies for FAMILY BUSINESSES, their OWNERS and for PROFESSIONAL ADVISERS Available as a one-off purchase All copyrights reserved Published by Templegate Press Limited, PO Box 3, Woking, Surrey

  • In modern industrial nations, although taxes are levied in terms of money, tax adviser the fundamental pattern remains: the government designates a tax base (such as income, property holdings, or a given commodity); applies a tax-rate structure to the base; and collects the tax (equal to the base multiplied by the applicable rate) company car tax from the stipulated legal taxpayer

  • avoid tax Elaborate networks of fiscal reporting become essential, as do legal enforcement and a standard of public education adequate to ensure a high degree of taxpayer compliance

  • In prosperous times, tax increases may be needed to hold down or prevent the inflation caused by too capital gains tax much money chasing too few goods, or if the government prefers to control inflation through interest rates, taxes may be cut for political or other ends

    Setting sun - tax reform crucial for rejuvenating Japan's economy ...
    Hudson Institute economist Alan Reynolds argues that tax reform is crucial to
    reviving the Japanese economy.

  • Policy options are artificially limited by archaic theories, in which the only things that seem to matter are budget deficits and interest rates

  • Imagine what could have happened if even a modest fraction of that money had been used to cut punitive tax rates on capital and skill

  • It is a dangerous myth that Japan's monetary policy is loose or impotent simply because interest rates are so low

  • To a businessman whose prices have been falling at a 5 per cent rate, Japan's 1.6 per cent prime rate feels like a rate of 6.6 per cent

  • Besides, monetary policy does not operate through interest rates alone

  • It also operates on liquidity and on future price expectations, and therefore on asset prices

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  • As we can keep our overhead down because of our size, we keep our hourly rates below what they would be if we were working at a big firm

  • Engel & Schultz is also well experienced in such varied business areas as LLCs and incorporations, angel and venture capital finance, buy-sell agreements, trademark prosecution, copyrights and trade secret protections, restricted stock and ISOs, succession planning for family businesses, mergers, acquisitions and corporate separations

  • Commissioner of Revenue , Engel & Schultz convinced the highest court in the Commonwealth to declare unconstitutional a change in the capital gains tax rate in the middle of the year, resulting in the refund of approximately $250 million for more than 157, 000 taxpayers

    Microsoft's Stock Options As Tax Loopholes
    Rob Landley of Motley Fool argues that Microsoft's size and methods allow it
    tactics to make money without even selling software.

  • Since granting options to employees results in taxable income to those employees, Microsoft gets to deduct that taxable employee income from its own taxable corporate income, and that's where Microsoft got a tax-free $3.1 billion in cash in fiscal 1999: 'Stock option income tax benefits.' But if you stop and think about it, Microsoft didn't really have to spend actual money to provide the options

  • So Microsoft got $3.1 billion of tax money back from the government, which at a 35% tax rate would be in exchange for a $9 billion tax expense it never had to pay

  • Its employees got taxed and paid that tax out of their own cash wages, and Microsoft got the money refunded back into its corporate coffers

    AFLC Foundation
    A charitable foundation in support of the Association of Free Lutheran Churches.

    Income Tax Department - Karnataka & Goa Region
    कर्नाटक व गोआ राज्यों के आयकर विभाग का अधिकारिक
    स्थल। संगठन संरचना, कार्यालयों के पते, ...

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